The dentist-founded Irish oral care brand will use the funds from Development Capital to expand its range of products including toothpastes, whitening products and mouthwashes throughout Europe, the UK and the US
Spotlight founders Dr Lisa and Dr Vanessa Creaven
Spotlight Oral Care, the Ireland-based premium oral care brand, is looking to a bright future after receiving a £10m investment from Irish capital fund company Development Capital to further grow its business and expand into more markets internationally.
Aiming to bridge the gap between oral care and oral beauty, the Galway-based brand was founded in 2016 by dentist sisters Dr Vanessa and Dr Lisa Creaven and today offers products including toothpastes, whitening products and mouthwashes featuring clinically proven ingredients and environmentally friendly packaging.
Now, the company will use its latest investment to progress its international expansion throughout Europe, the UK and the US, where it predicts to triple its turnover of €19m in the next three years.
Spotlight also hopes that the injection, which sees Development Capital's co-founding partner Andrew Bourg join its Board of Directors, will help attract new talent to its international senior management team, helping to support product innovation and boost its online and retail presence to reach more consumers in its key markets.
Dr Vanessa Creaven, co-founder and CEO of Spotlight Oral Care, said: “This investment by Development Capital is a pinnacle moment for us in the business as we have experienced rapid business growth in the last 12-18 months.
“The financial support and expertise that comes with this investment will allow Spotlight Oral Care to expand further and continue to help us revolutionise oral care.”
The investment is said to follow a year of significant demand and growth for the company, which last year received a €3m injection from Irish businessman Dermot Desmond's IIU Fund to support its expansion into the US, as well as growing its business from 10 to 52 employees across Ireland, the UK and the US.
Said to offer customers a more personalised and sustainable alternative to generic oral care brands, today the brand is available from major retailers including Cult Beauty, Lookfantastic and Boots in the UK; Ulta Beauty; CVS and Target in the US; and at pharmacy partners and retailers Dunnes Stores, Tesco, Arnotts and Brown Thomas across Ireland.